ASTE - The Rosen Law Firm P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Publicly-Traded Astec Industries Inc. Common Stock - ASTE | Benzinga
CHATTANOOGA, Tenn., June 24, 2024 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that the United States District Court for the Eastern District of Tennessee has approved the following announcement of a proposed class action settlement that would benefit purchasers of publicly-traded Astec Industries, Inc. common stock (NASDAQ:ASTE):
SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT
TO: ALL PERSONS WHO PURCHASED PUBLICLY-TRADED ASTEC INDUSTRIES, INC. ("ASTEC") COMMON STOCK BETWEEN JULY 26, 2016 AND OCTOBER 22, 2018, INCLUSIVE.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Eastern District of Tennessee, that a hearing will be held on September 5, 2024, at 2:00 p.m. before the Honorable Charles E. Atchley Jr., United States District Judge of the Eastern District of Tennessee, 900 Georgia Avenue, Courtroom 1A, Chattanooga, Tennessee 37402, for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $13,700,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Lead Counsel for an award of attorneys' fees of up to one-third plus interest of the Settlement Amount, reimbursement of expenses of not more than $330,000, and a service payment of no more than $15,000 to Lead Plaintiff should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation of Settlement, dated May 6, 2024 ...